Since the uprising in Libya began last month, gas prices in the U.S. have jumped 29 cents a gallon, while oil prices leapt to the highest levels since 2008. That means Americans are now paying an extra $108 million a day for the same amount of fuel, according to The Associated Press. Analysts remain worried about disruptions to the world's oil supply, especially if the instability spreads to Saudi Arabia. "There's perhaps never been a more precarious time for gasoline prices," says Steve Hargreaves in CNNMoney. Some speculate that gas prices of $7 a gallon (or even higher) might be possible. Could costs at the pump really double? (See a local report about rising gas prices)

Prices may go higher, but not much: "This year's fuel price apocalypse arrived early," says analyst Tom Kloza at Speaking of Oil. But these irrational fears about oil prices and supplies crop up seasonally. Unless the Middle East descends into utter chaos, prices will peak around $3.50 or $3.75 a gallon. Those forecasts of much higher prices are just out there right now because people have "books to promote, and newspapers or TV segments to sell.""The fuel hits the fan"